Bullflag resting on band with tight invalidation
Pretty simple play here. USDCAD tightly coiling up since Sept 2022. Higher lows. Looks like it wants to explode, even a surprise rate hike by the Bank of Canada wasn't enough to sweep the lows. Tight invalidation. US trudging ahead with rate hikes while the market is in disbelief and calling J Powell's bluff. But he's not bluffing. Canada has the bubbliest mortgage market on the planet. They won't be able to follow the US fed lest they ruin a generation of boomers' home equity and retirement.
CAD is clown currency. USD is King.
1.45 first target
CAD is clown currency. USD is King.
1.45 first target
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